UniSuper Management Pty Ltd Takes Position in Block, Inc. $XYZ

UniSuper Management Pty Ltd bought a new position in shares of Block, Inc. (NYSE:XYZ) during the third quarter, HoldingsChannel.com reports. The institutional investor bought 55,507 shares of the technology company’s stock, valued at approximately $4,011,000.

A number of other hedge funds have also recently bought and sold shares of the business. Cromwell Holdings LLC acquired a new position in shares of Block in the 3rd quarter valued at approximately $27,000. City Holding Co. acquired a new stake in Block in the third quarter valued at $27,000. Nemes Rush Group LLC bought a new position in Block during the 2nd quarter valued at $26,000. Traub Capital Management LLC bought a new position in Block during the 2nd quarter valued at $26,000. Finally, RMG Wealth Management LLC acquired a new position in Block during the 3rd quarter worth $30,000. Institutional investors and hedge funds own 70.44% of the company’s stock.

Insider Activity at Block

In other news, insider Arnaud Weber sold 7,095 shares of the company’s stock in a transaction dated Friday, November 21st. The shares were sold at an average price of $61.40, for a total transaction of $435,633.00. Following the completion of the transaction, the insider owned 259,136 shares in the company, valued at approximately $15,910,950.40. This represents a 2.66% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Owen Britton Jennings sold 10,417 shares of Block stock in a transaction dated Friday, November 21st. The shares were sold at an average price of $61.40, for a total transaction of $639,603.80. Following the completion of the sale, the insider owned 243,540 shares in the company, valued at approximately $14,953,356. This represents a 4.10% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 54,796 shares of company stock valued at $3,395,943. Company insiders own 10.49% of the company’s stock.

Block Stock Up 2.7%

NYSE:XYZ opened at $66.78 on Monday. The company has a current ratio of 2.18, a quick ratio of 2.18 and a debt-to-equity ratio of 0.25. The stock has a 50 day moving average of $64.66 and a 200-day moving average of $71.41. The firm has a market capitalization of $40.58 billion, a PE ratio of 13.46, a price-to-earnings-growth ratio of 1.40 and a beta of 2.66. Block, Inc. has a 52 week low of $44.27 and a 52 week high of $94.25.

Block (NYSE:XYZ) last released its quarterly earnings data on Thursday, November 6th. The technology company reported $0.54 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.25 by $0.29. The business had revenue of $6.11 billion during the quarter. Block had a return on equity of 5.54% and a net margin of 12.99%.The company’s revenue for the quarter was up 2.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.53 EPS. Analysts predict that Block, Inc. will post 2.54 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. BTIG Research restated a “buy” rating and issued a $90.00 target price on shares of Block in a research note on Thursday, November 20th. Royal Bank Of Canada reissued an “outperform” rating and issued a $90.00 price objective on shares of Block in a report on Thursday, November 20th. Wells Fargo & Company raised Block to a “strong-buy” rating in a report on Wednesday, October 22nd. Oppenheimer reiterated an “outperform” rating and issued a $85.00 target price on shares of Block in a research report on Friday, November 7th. Finally, Truist Financial set a $72.00 price target on Block in a research report on Tuesday, January 20th. Three analysts have rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $82.97.

About Block

Block (NYSE:XYZ) is a financial technology company that builds products and services to facilitate electronic payments, commerce, and consumer finance. Its principal business lines include a seller-focused ecosystem that provides point-of-sale hardware and software, payment processing, invoicing, payroll and lending services, and a consumer-facing platform that offers peer-to-peer payments, banking-like features, and investing. Block’s portfolio also encompasses music streaming and buy-now-pay-later capabilities through businesses acquired to broaden its reach beyond core payments.

The company was founded as Square in 2009 by Jack Dorsey and Jim McKelvey and later rebranded to Block to reflect a diversified set of businesses across payments, consumer finance, and emerging technologies.